A powerful merchandising strategy can be the difference between a successful e-commerce store and an underperforming one, especially when it comes to increasing your click through rate (CTR).
But without access to advanced product analytics, retailers are forced to rely on best practices and intuition alone, which can be a costly mistake in such a fast-paced market. Furthermore, retailers that don’t incorporate a data-driven approach often miss out on opportunities to improve their profits.
To avoid this problem, DailySale (an e-retailer of discounted goods) approached Kimonix with a simple need: to increase their CTR through smart collections that would empower their long-term strategy.
DailySale is an e-commerce site offering a diverse range of products sold at discounted prices. The company strives to save time for buyers by tracking down the best deals on their favorite items.
Its current categories include Apparel & Jewelry, Electronics, Home, Health & Beauty, Outdoors & Travel, and more.
Create a dynamic mix of products based on advanced product analytics
Promote the best performing products
Consider ROI-driven parameters while increasing CTR on collection pages
The smart collections crafted and sorted using these parameters helped to boost profit for each, while also providing DailySale with a more comprehensive view of their overall sales performance.
Like any e-retailer, DailySale knew that one of the keys to success was curating a product selection that entices customers and increases the number of smart collections they receive.
However, this is easier said than done—at least without a powerful tool for collecting data on product performance and using it to make informed decisions.
To make matters more complex, DailySale's site features dozens of products spanning multiple categories, making it impossible to manually determine and promote best-selling items while still tracking margin and inventory.
In a nutshell: DailySale needed a solution that could monitor data across multiple product categories, identify top-performing products, and track inventory levels.
DailySale’s store was designed to be a one-stop shop for all of their customers’ needs. So when they saw that customers tended to shop by product category, whether it be women's clothing or home goods, they knew they needed an automated solution that could dynamically sort their products based on real time data.
Fortunately, we had exactly what they needed.
To help DailySale sort their products dynamically based on real time data, our Kimonix AMS granted them a powerful AI merchandising strategy that considered various advanced parameters, including:
Sales
Inventory
Margin
And more!
Increase in AVG collection CTR (YoY)!
Kimonix's AMS AI merchandising strategy solution was successful in eliminating manual tasks for DailySale's team and increasing sales for each sorted collection. As a result, the company can now focus more on growing its business and improving the customer experience.
Thanks to these advanced product analytics, the company enjoyed the following result.
